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Prospectus Supplement May 1, 1998*
Strategist Growth and Income Fund, Inc.
(Nov. 28, 1997) S-6122 D (11/97)
The following paragraph replaces the paragraph on Edward Labenski in the
"Portfolio managers" section for Balanced Portfolio:
Bradley Stone joined the Advisor in 1996 and serves as portfolio manager. He has
managed the assets of the fixed-income portion of Balanced Portfolio since May
1998. Prior to joining the Advisor he was a fixed income portfolio manager at
Piper Capital Management, Inc. from 1990 to 1996.
The "London Team" paragraph in the "Portfolio management team" section of the
prospectus has been revised as follows:
Ian King and John O'Brien, the "London Team," provide portfolio management for
the international equities portion of the Portfolio. Ian joined AEFC in 1995 and
serves as portfolio manager for Emerging Markets Portfolio. Prior to joining
AEFC he was director of Lehman Brothers Global Asset Management Ltd. from 1992
to 1995. John joined AEFC in 1988 and serves as vice president and portfolio
manager for American Express Management International Inc. He became portfolio
manager of World Growth Portfolio and IDS Life Series Fund, International Equity
Portfolio in September 1997.
The "Investment policies and risks" section of the prospectus has been revised
as follows:
The policies described below apply both to the Fund and the corresponding
Portfolio.
Total Return Portfolio-allocates its investments generally among four asset
classes (each of which has its own particular risk attributes): U.S. equities,
U.S. and foreign debt securities, foreign equity securities and cash. Each of
these asset classes may include subcategories. For example, U.S. equities may
include both large capitalization and small capitalization companies. Foreign
securities may include both developed and emerging markets. The Portfolio may
use derivative instruments and make investments not in these classes. The
portion to be invested in each class is determined by the portfolio manager
based on his judgment as to which mix of assets will provide the most favorable
total return. That mix, called the market mix, may be reset periodically, and is
expected to be reset at least once every 12 to 18 months.
S-6122-2 A (5/98)
*Valid until next prospectus update
Destroy Nov. 30, 1998
